If you’ve been too consumed with finding an iPad to file your taxes there’s good news; you can get a 6 month Federal Tax Extension free. The IRS offers this option for anyone who fills out a Form 4868 without any penalties and now TurboTax is helping personal filers fill out this form for free with a TurboTax purchase or for $9.99 without. Businesses can also fill out a Federal Tax Extension for just $19.95.
There’s no penalty for filing with an extension and it doesn’t increase your chance of being audited — but you do have to pay any taxes that you owe by the end of today, April 15th. If you miss the post office closing in your area this tool from TurboTax will allow you to make the payment online from your checking or savings account to avoid any late filing and late payment penalties.
If you have used TurboTax in the past it can pull in your previous info and make filing for an extension incredibly easy. If you haven’t used TurboTax in the past and want to know what you may owe the IRS, use TurboTax’s TaxCaster tool to figure out if you are getting a refund or how much you owe in just a few minutes.
After filing your federal tax extension you will still need to file a state and local tax extension by mail. You can find the forms and directions by visiting the income tax department for your state listed here. If you can’t have your taxes finished on time, this is a great way to save yourself the cost and frustration with filing late.
This short 2 minute video shows you just how easy it is to file for a Federal Tax Extension online to avoid late fees and penalties.